Thursday, October 28, 2010

10/27/10 Holding Pattern

Entries could have been better on all positions opened today- AA/BAC/CSCO/INTC and especially V! At this point, only 20% allocations. Plan right now is to add on any further drops in V. For the others, the plan is to add on strength.

fwiw, the OAKBX I opened last night closed up +0.10, or +0.38%.

Nothing to get excited about. Still waiting for someone to light the fuse that detonates the bomb that rocks the indexes past resistance levels.

117 comments:

  1. PMI - Ouch, wooo hooo!
    FNF - Coming back from the dead?

    What I don't get is how one can be ebidt positive and the other not. Something going on here I don't quite get, maybe I can figure it out? PMI is the one I'm gonna focus on more than FNF...

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  2. PMI/RDN - These both are interesting, the thesis involves emphasis on private investment incentives in the resolution of FRE/FNM pooch screw.

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  3. TOF- No, I'm here...

    JACKSONVILLE, Fla. — A north Florida mother has pleaded guilty to shaking her baby to death after the boy's crying interrupted her game on Facebook.
    Alexandra V. Tobias pleaded guilty to second-degree murder on Wednesday and remains jailed.
    The Florida Times-Union reports that she told investigators she was angered because the boy was crying while she was playing the game FarmVille.
    The paper also reports that she told investigators she shook the boy, smoked a cigarette to compose herself and then shook him again.
    She will be sentenced in December. State guidelines call for 25 to 50 years, but a prosecutor said it could be shorter than that.
    A telephone message and an e-mail sent by The Associated Press to her attorney weren't immediately returned.

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  4. You guys should read the PDF in this link....

    http://dealbreaker.com/2010/10/paul-tudor-jones-latest-letter-to-investors/

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  5. REMX - So I wonder what buyers think of their new ETF now?

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  6. What did Tudor say in a nutshell? That PDF file must be huge, it's taking a long time to download.

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  7. CP- Read it as most of it about the Yuan peg...A favorite of yours. But ST with another round of QE stocks/metals go up.

    ReplyDelete
  8. Okay, I'll keep trying to download.

    Ha, the aspect I find ironic about the yuan peg is it by default means China allows the US FED to set their monetary policy. ;)

    ReplyDelete
  9. CP- Would it help if I emailed it to you? It's not that big. Mostly text.

    ReplyDelete
  10. Hi mark,

    the pdf is giving me a headache

    ReplyDelete
  11. Should be a 15 minute download for me, file is 3.8 MB (PDF files are fatter than folks think, would take three 1.44 floppy disks).

    Halfway done, I kept trying to reload until I checked file size and realized what was up...

    email is same size as long as it stays in PDF format.

    BTW, this is why I don't like Adobe, PDF file size is ridiculous and the whole concept seems so Orwellian.

    ReplyDelete
  12. OK- I'll email it to everyone I have an address for.

    ReplyDelete
  13. Oh now that I've downloaded it, I see someone scanned a document and probably at the highest resolution setting.

    As if anybody's monitor can display that level of detail.

    So now I'll start reading it but first things first, Poncho's been waiting all day to play ball...

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  14. by the way, what is with mtngntx and illini over at cc ?

    Last I saw, mtngntx was siting UFO's invading.

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  15. ok, I agree with TOF. I'm a closet nonbeliever in precious metals but I do buy from time to time. Crude and copper make a lot more sense to me but what can you do?

    Mark, thx for the email. I wonder if there is a fund already set up to mimmick that portfolio mix? The most curious part of the mix to me are the 10 yr bonds.

    I did a reply all on Mark's email with a Credit Suisse report showing bullish natty factors.

    ReplyDelete
  16. I didn't pick up any UNG calls today. I liked the action going into the storage report but the rally afterwards on a 2 bcf miss? I don't get that either. Obviously some people with the ability to move the market have their own private numbers. Hmmm, is it possible that some peeps report false estimates just to sway the market? nawwww

    I was sitting there noodling over doing a UNG call spread but I had to go to a meeting and I just never had a chance to go back and do the trade.

    ReplyDelete
  17. Yep, that's pretty much how I view the situation. What's puzzling about gold is the constant harping about how it will outperform during a deflationary period, which is contrary to my expectation, and why gold hasn't already shot to much higher levels in anticipation of the process as it unfolds.

    I tend to believe in the emerging markets theme and what better way, since the yuan isn't traded in the free market to catch a rising yuan than by holding well performing Chinese equities?

    On a side note, what does Charley Sheen, Mary Poppins, and Chitty-Chitty Bang-Bang have in common?

    ReplyDelete
  18. vb - I believe mtngntx lives at high altitude, where the air is a bit thinner and the stars much closer than where most of the rest of us live.

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  19. cp,

    I completely relate to mtngntx . I am the same in spirit and respect his/her shares.

    ReplyDelete
  20. So somebody's been selectively manipulating what can be said over on CC again, huh?

    Why am I not surprised, I wouldn't trust BC even if there weren't half an ocean between us.

    ReplyDelete
  21. vb - There's absolutely nothing wrong with thinking out of the box, it should be encouraged more often. I often think we could use more innovative thinking in this day and age.

    ReplyDelete
  22. How would you like selling lemonade and hot dogs to thirsty soldiers in the middle of a war zone?

    http://cgi.ebay.com/Ranch-Land-20-Acres-Hunt-RV-ATV-Bid-Today-/190460576498?pt=Land&hash=item2c5855c2f2

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  23. cp

    never burn bridges

    ps isn't it bedtime for you? it is for me.

    gnite

    ReplyDelete
  24. CREE - Is this one about to turn back up?

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  25. Skies are clear/ Coastal fog Monday morning newSubmitted by 2nd_ave (4872 comments) on Fri, 10/29/2010 - 09:08 #73114
    The trend reversed the end of August, and still points up. Each challenge to the downside has been bought. Today is EOM. Things may change appreciably next week, and it may make sense to clear the table ahead of midterm elections/Fed annoucements. No point sailing in the midst of virtually guaranteed volatility, right- wait for the fog to burn off. But I think we close higher today.

    ReplyDelete
  26. Portugal Spreads newSubmitted by teamonfuego (2262 comments) on Fri, 10/29/2010 - 09:40 #73122
    http://www.reuters.com/article/idUSLDE69Q19A20101027?rpc=401

    A thing to keep your eye on: Portugal's rising debt crisis.

    And Greece may be back in the crosshairs too. Again, a strong Euro is more detrimental to these economies than a strong dollar is to the US:
    http://www.marketwatch.com/story/greek-bond-yields-jump-on-deficit-concerns-2010-10-27

    ReplyDelete
  27. "China to regulate molybdenum exploitation in 2011

    Shanghai. October 29. INTERFAX-CHINA - China's Ministry of Land and Resources (MLR) plans to accord molybdenum a protected mining status and impose quotas on its production in 2011, the state-owned China Securities Journal reported Oct. 29."

    http://www.interfax.cn/news/15552

    ReplyDelete
  28. Yea, I wonder if this one will stick... Maybe yes?

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  29. CP - I gotta say I really admire your resilience to these fellas trying to get you to sell your GMO. Way to trust your intuition!

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  30. (And no offense to you guys)

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  31. TOF - I think by design, there are a large number of folks who've been conditioned into taking gains quickly.

    ReplyDelete
  32. For instance, remember when we were holding TCK with a $6 handle?

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  33. PMI/RDN - There seems to be some bottom fishers coming in already. This might be a good play going into end of year(FRE/FNM are scheduled for reorganization early next year) and possibly beyond, there should be an immediate bump should Republicans gain some political majority.

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  34. Mark - did your BTIM order ever fill? it's back above 6....thx for the pdf too - I'll read it over the weekend.

    ReplyDelete
  35. Resource Miners - The world still needs minerals in order to continue operation during a depression! ;)

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  36. Long MGM at $11.08.

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  37. Added more REDF at $4.03

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  38. Took off my long hedges at what will amount to be the wrong time. TZA off at $22.5 (bought at $22.8) and SPY puts off at $2.4 (bought at $2.53 avg)

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  39. JB- Yeah, your asleep at the switch. 3000K @ 5.48.

    BTW...What's the proper way to spell "yeah", as in yes. Or "yea" as in happy????

    ReplyDelete
  40. REDF - Getting close to the 50SMA, I'm trying to keep an eye on this as a potential entry...

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  41. cool bro, and, yep, perpetually asleep at the wheel!

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  42. I'd be one smitten kitten if we closed right here. +1.11%.

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  43. All right. I'll try to add to REDF @ the 50, which I have as 3.91.

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  44. Embryonic or adult stem cells? From my perspective, I'm for whatever works.

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  45. CP - yeah i should have kept that entry point in mind on REDF. oh well. can't always be right.

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  46. Partial fill @ 3.91. 1,200 shares.

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  47. Holy shit, CP! You have to be the LUCKIEST CHICKEN in the blogosphere.

    OK, I'm done advising you how to trade.

    ReplyDelete
  48. CADC - Wonder who want's out so badly today? Sheesh!

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  49. CP- Sniff around and see what you can find out about CDTID.

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  50. Bought some MGM $11 Nov Calls at $.59.

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  51. 2nd - Lead, follow, or get out of the way! All kidding aside, please keep telling me/us what you think, aside from the casual relationships, it's what I come here for.

    Just be yourself and don't hesitate to speak your mind, your objective observations are what I want to hear about.

    I said a hip, hop, the hippie the hippie dibby hip hop hop and you don't stop to rock it to the bang bang boogie say up jump the boogie,
    to the rhythm of the boogie, the beat.

    Go by the code of the doctor of the mix.

    ReplyDelete
  52. CDTID - Good idea, we should be checking into this one and others like it if for no other reason than to practice our research skills...

    ReplyDelete
  53. CP- In that case, I think today's a good day to sell! ;)

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  54. Unbelievable...my timing lately has been off at best. Sold my MGM and MGM calls and moving to cash until I get my timing in line. Still holding my REDF.

    ReplyDelete
  55. CDTID - "As of October 15, 2010, Clean Diesel Technologies Inc. was acquired by Catalytic Solutions, Inc., in a reverse merger transaction."

    So they make a catalytic additive for diesel fuel using precious metals like platinum.

    This technology introduces a catalyst (presumably nanoparticles) emulsified with the fuel into the combustion process which could potentially lower combustion temperature and assist in a more complete consumption of hydrocarbons.

    I've read about this before, it sounds plausible and I've often wondered why engine manufacturers haven't implemented catalytics directly in combustion chambers, like Volvo did with their coolant radiators that actually use catalytic action to remove pollution from the air as the vehicle moves.

    Apparently, from what I read, this technology has been tested and proven to work in cruise ships.

    So the next logical step might be to look into those results, didn't the cruise lines just report their earnings? There might be some clues there... I'll look in a bit

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  56. CADC - A low of $4.35, incredible volatility. Do ya think maybe someone's trying to shake loose hands from the tree?

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  57. alright...gave it one last go on the SPY puts at $2.55 on the Nov 20 $119 puts.

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  58. CDTID - From a skeptical perspective, if you think about it, you have to ask the question of why the big oil boys haven't already looked at placing catalytic materials in fuel?

    I bet they have, but for some reason it hasn't made it to market as far as I'm aware...

    Is that about to change?

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  59. 2nd - GMO just hit $4.92, you'd still sell here? Yeah, I know the answer... we won't know if this was right until next month. ;)

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  60. chicken, holy moly on gmo!!

    I'd hold cadc. IN fact, wish I could buy the dip

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  61. HILARIOUS:

    * Berlusconi says will not apologise for way of life
    * "I love life, I love women"
    (Adds quotes, reaction)
    By James Mackenzie
    ROME, Oct 29 (Reuters) - Prime Minister Silvio Berlusconi said on Friday he loved life and women and would not apologise for enjoying himself after new reports of girls and parties at his home were splashed across the front pages.
    Italian newspapers have reported that a 17 year-old Moroccan known as "Ruby" told Milan magistrates she had attended parties at Berlusconi's residence in Arcore near Milan, triggering a fresh scandal over the prime minister's private life.
    The influential Catholic weekly Famiglia Cristiana said on Friday Berlusconi was in a "state of sickness".
    Last year, Berlusconi's estranged wife Veronica accused him of "consorting with minors" after he was filmed at the 18th birthday party of an aspiring model.
    Accounts of what is supposed to have gone on at the most recent parties are vague and vary widely. Berlusconi said he did not want to add to what Ruby had said but he did not deny entertaining her at his villa.
    "I am very proud of my ability to be a host, a rather rare, perhaps unique host," he told reporters after a meeting with European leaders in Brussels. "I am a playful person, full of life. I love life, I love women."
    The 74-year-old prime minister said he was entitled to some relaxation after the strains of office which required him to work 19-hour days, seven days a week.
    "I have a terrible life. I have a life which requires super-human efforts," he said. "I work like nobody else does, until half past two at night."
    "If, every now and then, I feel the need for a relaxed evening, to tell some jokes, for mental therapy, to clear my brain from all these worries, I think that is part of my personality and at my age, noone can make me change my way of life," he said.
    Berlusconi said he had helped the girl, who came from a tough background, when she was in trouble with police. He said he had tried to find her shelter but he denied paying her or arranging any improper interference in the justice system.
    "This person was presented to me as having a tragic life and I decided to help her, as I help anyone who comes in contact with me, when I can," he said. "I didn't give her cars, all these things which don't exist."

    ReplyDelete
  62. HILARIOUS!

    * Berlusconi says will not apologise for way of life
    * "I love life, I love women"
    (Adds quotes, reaction)
    By James Mackenzie
    ROME, Oct 29 (Reuters) - Prime Minister Silvio Berlusconi said on Friday he loved life and women and would not apologise for enjoying himself after new reports of girls and parties at his home were splashed across the front pages.
    Italian newspapers have reported that a 17 year-old Moroccan known as "Ruby" told Milan magistrates she had attended parties at Berlusconi's residence in Arcore near Milan, triggering a fresh scandal over the prime minister's private life.
    The influential Catholic weekly Famiglia Cristiana said on Friday Berlusconi was in a "state of sickness".
    Last year, Berlusconi's estranged wife Veronica accused him of "consorting with minors" after he was filmed at the 18th birthday party of an aspiring model.
    Accounts of what is supposed to have gone on at the most recent parties are vague and vary widely. Berlusconi said he did not want to add to what Ruby had said but he did not deny entertaining her at his villa.
    "I am very proud of my ability to be a host, a rather rare, perhaps unique host," he told reporters after a meeting with European leaders in Brussels. "I am a playful person, full of life. I love life, I love women."
    The 74-year-old prime minister said he was entitled to some relaxation after the strains of office which required him to work 19-hour days, seven days a week.
    "I have a terrible life. I have a life which requires super-human efforts," he said. "I work like nobody else does, until half past two at night."
    "If, every now and then, I feel the need for a relaxed evening, to tell some jokes, for mental therapy, to clear my brain from all these worries, I think that is part of my personality and at my age, noone can make me change my way of life," he said.
    Berlusconi said he had helped the girl, who came from a tough background, when she was in trouble with police. He said he had tried to find her shelter but he denied paying her or arranging any improper interference in the justice system.
    "This person was presented to me as having a tragic life and I decided to help her, as I help anyone who comes in contact with me, when I can," he said. "I didn't give her cars, all these things which don't exist."

    ReplyDelete
  63. * Berlusconi says will not apologise for way of life
    * "I love life, I love women"
    (Adds quotes, reaction)
    By James Mackenzie
    ROME, Oct 29 (Reuters) - Prime Minister Silvio Berlusconi said on Friday he loved life and women and would not apologise for enjoying himself after new reports of girls and parties at his home were splashed across the front pages.
    Italian newspapers have reported that a 17 year-old Moroccan known as "Ruby" told Milan magistrates she had attended parties at Berlusconi's residence in Arcore near Milan, triggering a fresh scandal over the prime minister's private life.
    The influential Catholic weekly Famiglia Cristiana said on Friday Berlusconi was in a "state of sickness".
    Last year, Berlusconi's estranged wife Veronica accused him of "consorting with minors" after he was filmed at the 18th birthday party of an aspiring model.
    Accounts of what is supposed to have gone on at the most recent parties are vague and vary widely. Berlusconi said he did not want to add to what Ruby had said but he did not deny entertaining her at his villa.
    "I am very proud of my ability to be a host, a rather rare, perhaps unique host," he told reporters after a meeting with European leaders in Brussels. "I am a playful person, full of life. I love life, I love women."
    The 74-year-old prime minister said he was entitled to some relaxation after the strains of office which required him to work 19-hour days, seven days a week.
    "I have a terrible life. I have a life which requires super-human efforts," he said. "I work like nobody else does, until half past two at night."
    "If, every now and then, I feel the need for a relaxed evening, to tell some jokes, for mental therapy, to clear my brain from all these worries, I think that is part of my personality and at my age, noone can make me change my way of life," he said.
    Berlusconi said he had helped the girl, who came from a tough background, when she was in trouble with police. He said he had tried to find her shelter but he denied paying her or arranging any improper interference in the justice system.
    "This person was presented to me as having a tragic life and I decided to help her, as I help anyone who comes in contact with me, when I can," he said. "I didn't give her cars, all these things which don't exist."

    ReplyDelete
  64. * Berlusconi says will not apologise for way of life
    * "I love life, I love women"
    (Adds quotes, reaction)
    By James Mackenzie
    ROME, Oct 29 (Reuters) - Prime Minister Silvio Berlusconi said on Friday he loved life and women and would not apologise for enjoying himself after new reports of girls and parties at his home were splashed across the front pages.
    Italian newspapers have reported that a 17 year-old Moroccan known as "Ruby" told Milan magistrates she had attended parties at Berlusconi's residence in Arcore near Milan, triggering a fresh scandal over the prime minister's private life.
    The influential Catholic weekly Famiglia Cristiana said on Friday Berlusconi was in a "state of sickness".
    Last year, Berlusconi's estranged wife Veronica accused him of "consorting with minors" after he was filmed at the 18th birthday party of an aspiring model.
    Accounts of what is supposed to have gone on at the most recent parties are vague and vary widely. Berlusconi said he did not want to add to what Ruby had said but he did not deny entertaining her at his villa.
    "I am very proud of my ability to be a host, a rather rare, perhaps unique host," he told reporters after a meeting with European leaders in Brussels. "I am a playful person, full of life. I love life, I love women."
    The 74-year-old prime minister said he was entitled to some relaxation after the strains of office which required him to work 19-hour days, seven days a week.
    "I have a terrible life. I have a life which requires super-human efforts," he said. "I work like nobody else does, until half past two at night."

    ReplyDelete
  65. "If, every now and then, I feel the need for a relaxed evening, to tell some jokes, for mental therapy, to clear my brain from all these worries, I think that is part of my personality and at my age, noone can make me change my way of life," he said.
    Berlusconi said he had helped the girl, who came from a tough background, when she was in trouble with police. He said he had tried to find her shelter but he denied paying her or arranging any improper interference in the justice system.
    "This person was presented to me as having a tragic life and I decided to help her, as I help anyone who comes in contact with me, when I can," he said. "I didn't give her cars, all these things which don't exist."

    ReplyDelete
  66. cp - suppose china comes out with a press release on Monday saying they're prepared to supply all the world's moly needs...what will gmo do then??? :-)

    ReplyDelete
  67. "Article: Panasonic Begins Shipping Samples of New Catalyst for Diesel Exhaust Gas Purification.
    ACN Newswire June 22, 2010"

    http://www.highbeam.com/doc/1G1-229554659.html?key=01-42160D517E1A1660160F061903674B2E224E324D3417295C30420B61651B617F137019731B7B1D6B39

    ReplyDelete
  68. Alkali metals (one or more of which Panasonic may use?):

    Lithium
    Sodium
    Potassium
    Rubidium
    Caesium
    Francium

    ReplyDelete
  69. Kyle - Whatever's going on here could also be partially from the REMX ETF build?

    No habla daytrading, but it's moving in my favor. ;)

    ReplyDelete
  70. Rainy day here...I just closed my SSO in the IRA. I'll take the bucks. I have plenty of longs in my much larger trading account.

    Trying to find out why PXP popped today, but I'll take it :)

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  71. CP - Easy! Don't jynx REDF.

    ReplyDelete
  72. vb - CADC - Didn't know you have some, I hope you paid less than $4 for it b/c I wouldn't be surprised to see that price again at some point.

    ReplyDelete
  73. The odd thing about Chinese officials announcing minerals mining quotas and limitations is they're just about to begin annual renegotiations on their iron ore import contracts.

    Seems kind of backwards...

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  74. I could use some extra eyes on PXP. Can't find anything, and it's really moving away from it's peers. This is a large position for me. THX.

    ReplyDelete
  75. TRID - All the discouraging news re: consumer electronics demand has knocked the bloom off the rose.

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  76. PXP - I don't see anything new off hand...

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  77. REDF- At least there's 30K shares bidding at 3.91.

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  78. PXP - Maybe they've received an offer on their deepwater lease(s)?

    ReplyDelete
  79. CP- I don't think they have any significant ones left. Most went to MMR.

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  80. Ah, then maybe the Chinese are involved in a shale play? China wants access to shale exploration technology?

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  81. 100% deduction for new equipment - Who wouldn't go for that and how do we play that one?

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  82. on CNBC yesterday around lunchtime, igonore the stock price, not sure how that works, usually CNBC links the prices and I think they keep updating regargless of when the article was published

    Plains Exploration & Production [PXP 27.5101 0.6001 (+2.23%) ]: More than 9,600 calls trading versus just 865 puts Thursday. That's nearly full session volume in the first hour of trading. Shares trading up .5 percent and volatility up to 60 from 46 percent. That surge in volatility reflecting the uncertainty of chatter among hedge funds that Plains could be a takeover target.


    port

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  83. Wow...REDF not looking good. Rough day for the old portfolio.

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  84. Cap Pres> AA/BAC/CSCO/INTC/V off the table newSubmitted by 2nd_ave (4873 comments) on Fri, 10/29/2010 - 14:21 #73142
    AA for a nice gain. INTC for a modest gain. BAC flat. CSCO and V for losses.

    Basically, out flat.

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  85. Bought a little more REDF at $3.78. Average is now down to $4.14. Still way too high.

    ReplyDelete
  86. Maybe there are 2 rumors...XCO to buy PXP and PXP to buy XCO.

    ReplyDelete
  87. alright sold my last SPY put trade at another loss...not a good trading day for me. Took that money and moved it into REDF at $3.81. That is the last of my REDF trades.

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  88. CP -- congratulations on your GMO hold! More realistically, you realize that it cannot grow to the moon, right? So maybe a trailing stop will indeed be a good idea, to make sure your recent gains are protected?

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  89. WFC- Nice late day push higher.

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  90. Most natty guys pushing higher.

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  91. Re: Cap Pres Part 2> Closing OAKBX end of day newSubmitted by 2nd_ave (4874 comments) on Fri, 10/29/2010 - 15:46 #73148 (in reply to #73142)
    No point sailing into rough waters next week, especially with a position that limits me to end-of-day trading.

    ReplyDelete
  92. Damn...I was going to joke I opened GMO just now @ 5.17...Couldn't be happier for you CP!!!

    ReplyDelete
  93. Imbalances....

    BUY- C/MS

    SELL- SWN/DVN/APA/APC/GS.

    ReplyDelete
  94. David - My lame broker in their infinite wisdom has been busily eliminating trading features for some strange reason, I recently lost my "All or None" feature to their brilliant efforts to "improve" their service.

    A trailing stop feature would be a complete wet dream. ;)

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  95. CP- Please tell us why you stick with them.

    ReplyDelete
  96. Am I pissed about losing these safety-net features? You're damn right I am.

    Sticking with them? My simplistic perspective is these remain under priced assuming they atain their growth forecast, and at this point there's not much reason (IMO) to believe these milestones can't be realized.

    Besides, it becomes increasingly difficult to reach my 2x portfolio goal by end of year if I keep taking money off the table!

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  97. I tried selling December $14 calls against 1/2 of my AA position, placing a sell limit at the asking price for the last hour, but couldn't get the order filled at the ask. Maybe the fate again did me a favor and I'll have a chance to sell those calls at a much better price next week.

    The market has been flat for two weeks now and the short-term overbought condition has been worked off. So now if things go well next week, the market can easily make another leg up.

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  98. can i go on record as saying that today marks the lowest closing low for REDF for a while, if not ever?

    i know this doesn't mean much but check out the correlation between the current 1 year chart and the 1 year chart of REDF back in November 2002 - 2003. The stock shot higher then pulled back really hard all the way to the 50DMA (actually just below it), RSI 14 bottomed out at around 40-41 and hte pullback was on weak volume. This is pretty much identical to what has happened so far.

    FD: Long at $4.13 average so take my opinion with a grain of salt!

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  99. I just had a realization that the current foreclosure mess will result in a huge jump in the median home sales price in the next report, so paradoxically, buying homebuilder stocks now might be a good idea...

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  100. TOF, I just looked at the 6-month chart for REDF and saw that it dropped today below the dip on October 22 to $4.05. So Vad will probably say that we shouldn't even think about buying REDF until it rises above $4. I'll be watching it closely next week and if it rises above $4, I'll probably buy some.

    ReplyDelete
  101. Oh, you meant to ask why I stick with my broker.

    A switch is on my to do list.

    ReplyDelete
  102. A friend of mine just sent me the following negative article about ECU.TO, which is dated November 2009:

    http://seekingalpha.com/author/christopher-ecclestone/instablog

    Why would someone write such a negative article? There is an intent behind every time-consuming action. It cannot be shorted below $1 and also there are not puts trading on it. The guy said that he just sold his shares in ECU.TO. Maybe he wanted to reload them at a much lower price?

    I will still study this article and will contact ECU with questions about the points I'll feel are important in the article.

    In any case, ECU has been good to me today. The sell limit order at $0.7 was hit for the 5000 shares of ECUXF I picked up at $0.65 earlier this week, and then a partial fill happened (2800 shares) at $0.72 for the 5000 shares I purchased on Monday at $0.67. That's a $370 trading profit right there AND a boost to my LARGE long-term core position in ECU. In a preparation for a second trading round trip in ECU, I placed, once again, a buy limit order for 5000 shares of ECUXF at $0.65.

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  103. I just noticed that the ECRI WLI index is slowly creeping up. If this keeps on happening, then at some point the WLI growth rate will turn from negative to positive -- I wonder where S&P will be at that point! :)

    I think GS pointed out a month ago that the 1-year S&P returns after a recession scare that does not materialize are like 20%. So S&P will probably break out above 1220 *even without Fed's help*! Maybe there is really something to TOF's thesis about the underlying economy actually improving...

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  104. CP:

    You might want to note that both the Toronto Stock Exchange (TSX) and TSX Venture Exchange ( TSXV) have made the decision to eliminate the ability to enter or execute All or None (AON) orders effective December 15, 2008.

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  105. TSX/TSXV - Next there'll be no stop limit orders allowed, no doubt.

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  106. GMO - I'll bet the 5% short float was somewhat involved with today's move.

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